MV SERVICES: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MV SERVICES
Largest movements
- Stocks and contracts -€414,334
down €414,334 (-62.7%), from €660,994 to €246,660
- Cash +€142,724
up €142,724 (+297.3%), from €48,000 to €190,725
mainly Stocks and contracts (+€414,334) and Receivables within one year (+€84,309)
- Receivables within one year -€84,309
down €84,309 (-22.2%), from €379,669 to €295,360
of which Other amounts receivable: -€63,255
- Tangible fixed assets -€47,829
down €47,829 (-14.0%), from €341,957 to €294,128
of which Furniture and vehicles: -€27,851
- Deferred charges and accrued income -€24,793
down €24,793 (-96.0%), from €25,838 to €1,044
- Trade debts -€341,400
down €341,400 (-68.6%), from €497,841 to €156,441
- Other debts -€85,573
down €85,573 (-21.7%), from €394,359 to €308,786
- Reserves +€74,793
up €74,793 (+23.4%), from €319,047 to €393,840
- Debts after one year -€41,309
down €41,309 (-32.0%), from €129,117 to €87,808
- Current portion of long-term debt -€20,735
down €20,735 (-33.4%), from €62,044 to €41,309
- Gross operating margin +€35,614
up €35,614 (+25.0%), from €142,640 to €178,254
- Taxes +€12,556
up €12,556 (+79.5%), from €15,801 to €28,357
- Depreciation -€6,470
down €6,470 (-11.1%), from €58,281 to €51,811
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,456,458 | €1,027,917 | -€428,540 | -29.4% |
| Fixed assets | 21/28 | €341,957 | €294,128 | -€47,829 | -14.0% |
| Tangible fixed assets | 22/27 | €341,957 | €294,128 | -€47,829 | -14.0% |
| Land and buildings | 22 | €194,612 | €185,506 | -€9,105 | -4.7% |
| Plant, machinery and equipment | 23 | €62,148 | €51,276 | -€10,873 | -17.5% |
| Furniture and vehicles | 24 | €85,197 | €57,347 | -€27,851 | -32.7% |
| Current assets | 29/58 | €1,114,501 | €733,789 | -€380,712 | -34.2% |
| Stocks and contracts in progress | 3 | €660,994 | €246,660 | -€414,334 | -62.7% |
| Stocks | 30/36 | €660,994 | €246,660 | -€414,334 | -62.7% |
| Amounts receivable within one year | 40/41 | €379,669 | €295,360 | -€84,309 | -22.2% |
| Trade receivables | 40 | €247,365 | €226,312 | -€21,053 | -8.5% |
| Other amounts receivable | 41 | €132,304 | €69,049 | -€63,255 | -47.8% |
| Cash at bank and in hand | 54/58 | €48,000 | €190,725 | +€142,724 | +297.3% |
| Deferred charges and accrued income | 490/1 | €25,838 | €1,044 | -€24,793 | -96.0% |
| Total equity and liabilities | 10/49 | €1,456,458 | €1,027,917 | -€428,540 | -29.4% |
| Equity | 10/15 | €337,647 | €412,440 | +€74,793 | +22.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €319,047 | €393,840 | +€74,793 | +23.4% |
| Distributable reserves | 133 | €319,047 | €393,840 | +€74,793 | +23.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,118,811 | €615,477 | -€503,333 | -45.0% |
| Amounts payable after more than one year | 17 | €129,117 | €87,808 | -€41,309 | -32.0% |
| Financial debts | 170/4 | €129,117 | €87,808 | -€41,309 | -32.0% |
| Amounts payable within one year | 42/48 | €954,245 | €506,536 | -€447,709 | -46.9% |
| Current portion of amounts payable after more than one year | 42 | €62,044 | €41,309 | -€20,735 | -33.4% |
| Trade debts | 44 | €497,841 | €156,441 | -€341,400 | -68.6% |
| Suppliers | 440/4 | €497,841 | €156,441 | -€341,400 | -68.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €394,359 | €308,786 | -€85,573 | -21.7% |
| Accrued charges and deferred income | 492/3 | €35,449 | €21,133 | -€14,316 | -40.4% |
| Non-recurring operating income | 76A | - | €413 | +€413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,281 | €51,811 | -€6,470 | -11.1% |
| Other operating charges | 640/8 | €2,818 | €2,803 | -€15 | -0.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €142,640 | €178,254 | +€35,614 | +25.0% |
| Operating profit (loss) | 9901 | €81,541 | €123,641 | +€42,099 | +51.6% |
| Financial income | 75/76B | €1,326 | €2,611 | +€1,285 | +96.9% |
| Recurring financial income | 75 | €1,326 | €2,611 | +€1,285 | +96.9% |
| Financial charges | 65/66B | €21,709 | €23,101 | +€1,392 | +6.4% |
| Recurring financial charges | 65 | €21,709 | €23,101 | +€1,392 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €61,158 | €103,150 | +€41,992 | +68.7% |
| Income taxes | 67/77 | €15,801 | €28,357 | +€12,556 | +79.5% |
| Profit (loss) for the period | 9904 | €45,357 | €74,793 | +€29,436 | +64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €45,357 | €74,793 | +€29,436 | +64.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.